CVS Pharmacy

CVS Pharmacy – Riverview, FL (Tampa MSA)

This CVS Pharmacy property in Riverview, Florida—a rapidly growing suburb within the Tampa Metropolitan Statistical Area—is secured by a long‑term absolute triple‑net (NNN) lease with CVS Health, a Fortune 500, investment‑grade tenant. This offering allows acquisition of a passive-income net lease investment backed by a corporate tenant in one of Florida’s strongest growth corridors.

Tenant Overview – CVS Health

CVS Pharmacy is part of CVS Health (NYSE: CVS), the nation’s leading retail pharmacy chain with more than 9,000 locations across the U.S. CVS offers high-frequency, essential services, including:

• Prescription fulfillment and management
• Immunizations, flu shots, and wellness screenings
• MinuteClinic walk-in medical services
• Retail healthcare products and over-the-counter medications
• Convenience items, personal care, grocery staples, and seasonal goods

CVS continues expanding its integrated healthcare model—telehealth, insurance integration, vaccination programs, and on-site clinics—ensuring long-term relevance and consumer loyalty in suburban markets like Riverview.

Lease Structure – Absolute NNN

The property operates under an absolute triple-net (NNN) lease, where CVS Health assumes responsibility for all real estate taxes, insurance, maintenance, and capital expenditures (including roof and structure). This structure gives investors:

• Zero landlord responsibilities
• Fully passive, bond-like income
• Long-term income stability with scheduled rent escalations
• Minimal rollover risk due to structured lease renewals
• Ideal alignment with 1031 exchange strategies and passive real estate portfolios

Riverview Market Overview – Tampa MSA

Riverview is part of Hillsborough County’s Sun City Center corridor, located approximately 20 miles southeast of downtown Tampa. The area has experienced explosive residential growth fueled by affordable housing, excellent schools, and proximity to Tampa Bay job centers and medical campuses.

With a current population exceeding 110,000, Riverview has transitioned from a bedroom community into a regional retail and healthcare hub supporting multiple national tenants and local services. Significant infrastructure investment, including highway expansions and new retail nodes, is reinforcing the area’s long-term economic trajectory.

Demographics and Growth Drivers

Riverview exhibits robust demographic and economic fundamentals:

• Population growth of over 50% in the past decade
• Median household income in the mid‑$60,000 range
• High homeownership rates and ongoing single-family construction
• Young families, baby boomers, and healthcare professionals
• Consistent in-migration due to Tampa-area employment and quality of life

These strengths support sustained demand for prescription services, immunizations, walk-in healthcare, and daily convenience—services at the core of CVS’s value proposition.

Strategic Location and Traffic Patterns

This CVS stands as a prominent retail anchor on a high-traffic thoroughfare, providing:

• Excellent visibility from major roads with high daily vehicle counts
• Easy ingress and egress, enhancing consumer access and convenience
• Co-tenancy with national grocers, quick-service restaurants, and medical practices
• Increased daytime traffic from nearby schools, offices, and healthcare facilities
• A retail node that reinforces CVS as a stable neighborhood destination

Community Role and Consumer Multipurpose Draw

CVS serves multiple community functions:

• Local pharmacy with prescription refill and patient counseling
• Healthcare destination for immunizations and primary care services
• Convenience retailer for everyday staples and quick shopping
• Gathering point for community interaction—especially for seniors and families

This multipurpose role ensures sustained foot traffic, making the property resilient across demographic cycles and consumer trends.

Tenant Credit and Investment Security

CVS Health is a publicly traded, investment-grade enterprise with:

• Strong credit ratings and significant free cash flow
• Consistent return on equity and dividend history
• National footprint of 9,000+ healthcare retail locations
• Corporate strategy focused on integrated healthcare, wellness, and community delivery

Institutional and private investors value CVS as a reliable anchor tenant due to its lease renewal consistency, strategic resiliency, and market penetration.

Investor Highlights

• Absolute NNN Lease: Fully passive income, zero landlord duties
• Corporate Tenant: Nationally recognized and investment-grade CVS Health
• High-Growth Market: Located in Riverview, a fast‑expanding Tampa MSA suburb
• Demographic Strength: Strong population growth, household incomes, and homeownership
• Essential Service Retail: Multi-use model—pharmacy, healthcare, and convenience retail
• Prime Retail Visibility: High-traffic corridor with strategic positioning
• Stable Cash Flow: Long lease, escalations, and renewals ensure income durability
• 1031 Exchange Eligible: Ideal for tax-deferred investment strategies
• Recession-Resistant Model: Daily-use, healthcare, and convenience offerings ensure downturn resilience

Conclusion

This CVS Pharmacy in Riverview, FL offers a premium single-tenant net lease investment in one of the Sun Belt’s most dynamic suburban markets. With an absolute NNN lease, corporate-backed tenancy, and exposure to a high-growth demographic corridor within the Tampa MSA, the property aligns with investor goals of stable passive income, capital preservation, and institutional-grade real estate exposure.